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If You Want to Know the Truth About Charter Schools, Follow the Money to the Hedge Funds
n abundance of evidence reveals charter schools are largely a sham that benefits the white ruling elite while destroying the public education that has been the foundation of this nation.
Add a June 4 Washington Post column entitled, "Why Hedge Funds Love Charter Schools," to the journalistic case of the people vs. charter schools. Overall, the commentary adds to the larger charge that charter schools are making a lot of people a lot of money. However, it emphasizes that the radioactive sector of the runaway financial sector, hedge funds, are in on profiting from the charter school racket. Washington Post journalist Valerie Strauss cites an analysis by Alan Singer, a teacher who works with the Department of Teaching, Literacy and Leadership at Hofstra University in Long Island, New York:
Obscure laws can have a very big impact on social policy, including obscure changes in the United States federal tax code. The 2001 Consolidated Appropriations Act, passed by Congress and signed into law by President Clinton, included provisions from the Community Renewal Tax Relief Act of 2000. The law provided tax incentives for seven years to businesses that locate and hire residents in economically depressed urban and rural areas. The tax credits were reauthorized for 2008-2009, 2010-2011, and 2012-2013.
As a result of this change to the tax code, banks and equity funds that invest in charter schools in underserved areas can take advantage of a very generous tax credit. They are permitted to combine this tax credit with other tax breaks while they also collect interest on any money they lend out. According to one analyst, the credit allows them to double the money they invested in seven years.
This is part of the answer to the question that Strauss poses at the beginning of her column: "One of the features of corporate school reform is the interest that Wall Street has shown in supporting charter schools. Why?"
Well, there are more financial beneficiaries to be listed in the answer to that question:
The real estate industry, which already receives huge tax breaks as it gentrifies communities, also stands to benefit by promoting charter schools and helping them buy up property, or rent, in inner city communities. One real estate company, Eminent Properties Trust, boasts on its website:
"Our investment portfolio of nearly $3 billion includes megaplex movie theatres and adjacent retail, public charter schools, and other destination recreational and specialty investments. This portfolio includes over 160 locations spread across 34 states with over 200 tenants."
The Charter management group Charter Schools USA recommends that rental costs should not exceed 20 percent of a schools budget. However the Miami Heraldreported that in 2011, 19 charter schools in Miami-Dade and Broward exceeded this figure and one in Miami Gardens paid 43 percent. The Herald called south Florida charter schools a $400-million-a-year powerhouse backed by real-estate developers and promoted by politicians, but with little oversight. Its report found charters paying exorbitant fees to management companies and that many of the highest rents were paid to landlords with ties to the management companies running the schools.
It does not take long to see a trend here: charter schools are a Trojan horse that allows the private market to turn a public education system into a large financial stream of profit - and at an increased cost to the taxpayer in many cases.
That brings us to the topic of Strauss's article hedge funds:
Read the rest here:
If You Want to Know the Truth About Charter Schools, Follow the Money to the Hedge Funds
Except they don't. You don't have the stats to support it dirtbag.If You Want to Know the Truth About Charter Schools, Follow the Money to the Hedge Funds
n abundance of evidence reveals charter schools are largely a sham that benefits the white ruling elite while destroying the public education that has been the foundation of this nation.
Add a June 4 Washington Post column entitled, "Why Hedge Funds Love Charter Schools," to the journalistic case of the people vs. charter schools. Overall, the commentary adds to the larger charge that charter schools are making a lot of people a lot of money. However, it emphasizes that the radioactive sector of the runaway financial sector, hedge funds, are in on profiting from the charter school racket. Washington Post journalist Valerie Strauss cites an analysis by Alan Singer, a teacher who works with the Department of Teaching, Literacy and Leadership at Hofstra University in Long Island, New York:
Obscure laws can have a very big impact on social policy, including obscure changes in the United States federal tax code. The 2001 Consolidated Appropriations Act, passed by Congress and signed into law by President Clinton, included provisions from the Community Renewal Tax Relief Act of 2000. The law provided tax incentives for seven years to businesses that locate and hire residents in economically depressed urban and rural areas. The tax credits were reauthorized for 2008-2009, 2010-2011, and 2012-2013.
As a result of this change to the tax code, banks and equity funds that invest in charter schools in underserved areas can take advantage of a very generous tax credit. They are permitted to combine this tax credit with other tax breaks while they also collect interest on any money they lend out. According to one analyst, the credit allows them to double the money they invested in seven years.
This is part of the answer to the question that Strauss poses at the beginning of her column: "One of the features of corporate school reform is the interest that Wall Street has shown in supporting charter schools. Why?"
Well, there are more financial beneficiaries to be listed in the answer to that question:
The real estate industry, which already receives huge tax breaks as it gentrifies communities, also stands to benefit by promoting charter schools and helping them buy up property, or rent, in inner city communities. One real estate company, Eminent Properties Trust, boasts on its website:
"Our investment portfolio of nearly $3 billion includes megaplex movie theatres and adjacent retail, public charter schools, and other destination recreational and specialty investments. This portfolio includes over 160 locations spread across 34 states with over 200 tenants."
The Charter management group Charter Schools USA recommends that rental costs should not exceed 20 percent of a schools budget. However the Miami Heraldreported that in 2011, 19 charter schools in Miami-Dade and Broward exceeded this figure and one in Miami Gardens paid 43 percent. The Herald called south Florida charter schools a $400-million-a-year powerhouse backed by real-estate developers and promoted by politicians, but with little oversight. Its report found charters paying exorbitant fees to management companies and that many of the highest rents were paid to landlords with ties to the management companies running the schools.
It does not take long to see a trend here: charter schools are a Trojan horse that allows the private market to turn a public education system into a large financial stream of profit - and at an increased cost to the taxpayer in many cases.
That brings us to the topic of Strauss's article hedge funds:
Read the rest here:
If You Want to Know the Truth About Charter Schools, Follow the Money to the Hedge Funds
How is this bad?
Rich people supporting schools that educate kids better than the publicly funded schools they are forced by taxes to support anyway, even though they suck.......
Seriously? You complain when the rich don't support charitable causes, and now you are complaining when they do.
Let me put it another way....
SHUT UP YOU IDIOT.
Any questions?
Except they don't. That's the problem.
Some do. Some end up not. Both of you are wrong for making a blanket statement one way or the other.
These are the stats, Fido.Actually, I provided the stats.
And the stats show that charter schools are doing great.
You want them shut down because they make the traditional public schools look like the waste they are.
Too bad.
And these statsActually, I provided the stats.
And the stats show that charter schools are doing great.
You want them shut down because they make the traditional public schools look like the waste they are.
Too bad.
Actually, I provided the stats.
And the stats show that charter schools are doing great.
You want them shut down because they make the traditional public schools look like the waste they are.
Too bad.
These are the stats, Fido.Actually, I provided the stats.
And the stats show that charter schools are doing great.
You want them shut down because they make the traditional public schools look like the waste they are.
Too bad.
http://credo.stanford.edu/documents/NCSS 2013 Final Draft.pdf
It's an update from these stats.
http://credo.stanford.edu/reports/MULTIPLE_CHOICE_CREDO.pdf
These are the stats, Fido.Actually, I provided the stats.
And the stats show that charter schools are doing great.
You want them shut down because they make the traditional public schools look like the waste they are.
Too bad.
http://credo.stanford.edu/documents/NCSS 2013 Final Draft.pdf
It's an update from these stats.
http://credo.stanford.edu/reports/MULTIPLE_CHOICE_CREDO.pdf
Er...I provided those.
Loon.
Unbelievable. How dare rich people want better education for American kids. Darn rich people....
No. They use our tax dollars. What part of that don't you get?
We've done this before. You have to pull your head out first.
So you want to deny children a decent education because you don't like the people who are paying for it.
Got it!
You have to provide the decent education. Thus far it's been a failure.
All you're doing, over and over, is proving that I'm right. You prefer bad traditional education dished out at crappy schools to superior education provided at charters.
NBC4 Investigates: Taxpayers Left Holding Bill For Charter Schoo - NBC4: Columbus, Ohio News, Weather, and Sports (WCMH-TV)In 2013, 17 charter schools in Columbus closed, joining 150 other charter schools around Ohio. It's a failure rate of 29 percent.
"$1.4 billion has been spent since 2005 through school year 2012-2013 on charter schools that have never gotten any higher grade than an F or a D," Collins said.
Collins, along with Stephen Dyer of the progressive public policy think tank, Innovation Ohio, said Ohio public schools have paid too high a price to support charter schools.
"We were told at the beginning, 'We can do it cheaper and better.' And they are doing it at twice the cost and it's worse," said Dyer.
Charter schools are funded by the state on the backs of school districts and taxpayers.
So you want to deny children a decent education because you don't like the people who are paying for it.
Got it!
You have to provide the decent education. Thus far it's been a failure.
What evidence do you have that shows either is better for the children?
The US Public Schools have been failing us for a long time and liberals are the first to admit it, because every time we turn around liberals are telling us the schools need more money because we need better education and test scores prove that.
So you want to deny children a decent education because you don't like the people who are paying for it.
Got it!
You have to provide the decent education. Thus far it's been a failure.
What evidence do you have that shows either is better for the children?
The US Public Schools have been failing us for a long time and liberals are the first to admit it, because every time we turn around liberals are telling us the schools need more money because we need better education and test scores prove that.
All you're doing, over and over, is proving that I'm right. You prefer bad traditional education dished out at crappy schools to superior education provided at charters.
They aren't superior. That's the problem. Most of them fail badly. Few of them work. Rather then tear apart the ones that don't work it's far better to ignore the problems.
When they are forced to shut down they leave many students stranded. But, you can't even manage to pull your head out of your ass long enough to look at or repair the problems within those.
NBC4 Investigates: Taxpayers Left Holding Bill For Charter Schoo - NBC4: Columbus, Ohio News, Weather, and Sports (WCMH-TV)In 2013, 17 charter schools in Columbus closed, joining 150 other charter schools around Ohio. It's a failure rate of 29 percent.
"$1.4 billion has been spent since 2005 through school year 2012-2013 on charter schools that have never gotten any higher grade than an F or a D," Collins said.
Collins, along with Stephen Dyer of the progressive public policy think tank, Innovation Ohio, said Ohio public schools have paid too high a price to support charter schools.
"We were told at the beginning, 'We can do it cheaper and better.' And they are doing it at twice the cost and it's worse," said Dyer.
Charter schools are funded by the state on the backs of school districts and taxpayers.
Does that look successful to you?
There's more. A lot more. Do you need me to repost those as well?
You have to provide the decent education. Thus far it's been a failure.
What evidence do you have that shows either is better for the children?
The US Public Schools have been failing us for a long time and liberals are the first to admit it, because every time we turn around liberals are telling us the schools need more money because we need better education and test scores prove that.
If you read the 2009 Stanford study it shows they are at best equal to or failing. The update says that the remaining charter schools have made modest gains. Not what KG insinuates. I posted two other reports. I can post more.
